Nurix Therapeutics’ (NRIX) Buy Rating Reiterated at Needham & Company LLC

Nurix Therapeutics (NASDAQ:NRIX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 16.61% from the company’s current price.

Several other research firms have also weighed in on NRIX. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 target price for the company. Robert W. Baird began coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $26.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Barclays boosted their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, HC Wainwright boosted their price target on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

Nurix Therapeutics Trading Down 1.2 %

NRIX opened at $24.87 on Monday. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $26.31. The firm has a market capitalization of $1.22 billion, a PE ratio of -8.52 and a beta of 2.22. The firm has a 50 day moving average of $23.44 and a two-hundred day moving average of $19.42.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting the consensus estimate of ($0.67). The firm had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. As a group, analysts predict that Nurix Therapeutics will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at $781,870.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the sale, the insider now directly owns 24,592 shares in the company, valued at $615,045.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at $781,870.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,105 shares of company stock valued at $1,507,181 over the last 90 days. 7.20% of the stock is owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Nurix Therapeutics during the second quarter worth approximately $578,000. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics in the second quarter valued at approximately $26,778,000. The Manufacturers Life Insurance Company increased its stake in Nurix Therapeutics by 25.0% in the second quarter. The Manufacturers Life Insurance Company now owns 22,942 shares of the company’s stock valued at $479,000 after purchasing an additional 4,583 shares during the last quarter. Millennium Management LLC increased its stake in Nurix Therapeutics by 60.2% in the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after purchasing an additional 225,374 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Nurix Therapeutics in the second quarter valued at approximately $201,000.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.